Source: Glonui.

On November 8th local time, electric car manufacturer Tesla rebounded strongly, closing up more than 8%, pushing the company's total market cap back above the trillion-dollar mark for the first time since 2022. The daily trading volume was $64.801 billion, ranking first in the US stock trading volume; the company's stock price this week has risen by over 29%.

Investors believe that Trump's return to the White House may benefit Tesla. Musk has previously stated that he will use his influence in the Trump administration to establish a federal approval process for self-driving cars.

Market cap surpasses the trillion-dollar mark again.

Thanks to the impact of Trump's victory in the 2024 US presidential election, Tesla continued to rise for the third consecutive trading day, closing up 8.19% on Friday, US time, once again surpassing the trillion-dollar mark in market cap.

According to Forbes' billionaire list, Tesla's sharp rise has skyrocketed the total assets of the company's founder and CEO Musk to $304 billion, far exceeding Larry Ellison, who ranks second on the global rich list, making him the new world's richest person.

Looking at a longer time frame, Tesla's stock price has risen by over 29% so far this year; during the low period in April, Tesla's stock price plummeted by over 44% from the closing price at the end of last year.

Wedbush Securities analyst and Tesla bull Dan Ives stated this week that the biggest beneficiaries of Trump's victory will be Tesla and Musk. After the Trump administration takes office, Tesla and other companies may face less regulation.

Trump previously said he might cancel the $7,500 federal electric vehicle tax credit. Historically, these credits have helped drive sales of electric vehicles.

In August this year, Trump stated, "I support electric vehicles."

I must do this because Elon strongly supports me.

During the third-quarter earnings call, Musk revealed that he will use his influence with the Trump administration to establish a "federal autonomous vehicle approval process."

Currently, each state has its own approval process, which Musk also sees as a regulatory hurdle that Tesla needs to overcome, especially as the company rolls out technology beyond partial self-driving systems.

In addition, Musk may play an important role in the upcoming Trump administration.

Initially, during the election, Trump proposed establishing a new department called the "Department of Government Efficiency." On August 3, Musk revealed that he had discussed the establishment of DOGE with Trump and expressed interest in joining.

On August 19, Musk posted an AI-generated image showing him standing at a podium with DOGE on it, and captioned it saying "I'd be happy to serve."

Obtained the 'Auto Privacy Protection' emblem.

On November 8, at the 2024 China Auto Software Conference hosted by the China Association of Automobile Manufacturers, Tesla obtained the 'Auto Privacy Protection' emblem authorization released by the China Association of Automobile Manufacturers, becoming one of the first batch of evaluated auto manufacturers, and the only foreign brand selected.

According to the announcement, Tesla complies with automotive data security compliance requirements. This also means that Tesla's models produced at the Shanghai Gigafactory comply with national standards, including four compliance requirements: anonymization of external facial information, default non-collection of cabin data, in-cabin data processing, and significant notification for personal information processing.

It is reported that Tesla established a datacenter in Shanghai in 2021 for local storage, and introduced third-party institutions to audit the company's information security management system.

Industry experts point out that in the future, more Tesla and smart car owners can feel more at ease purchasing and using brands that meet relevant safety requirements.

According to previous media reports, the Chinese government supports Tesla in testing some features of the FSD (Fully Self-Driving) system under existing laws and regulations, but the introduction of FSD to China has not yet been approved by regulatory authorities, and related evaluations are still ongoing.

On September 5, Tesla's AI team account @Tesla_AI on the social media platform X announced that Tesla plans to launch FSD in the Chinese market in the first quarter of 2025, subject to regulatory approval.

Earlier, Musk proposed to relevant departments the idea of directly obtaining some non-sensitive video data to use for training their self-driving system; and actively suggested having a dedicated government team conduct a comprehensive assessment on these video data to ensure data security.

Editor/Jeffy